Royal Gazette

The Royal Gazette/BSX Index closed unchanged yesterday on 3,540.87 in the absence of trading activity on the Bermuda Stock Exchange.
The index was unchanged for the week too, with Allshores the only s…

Lauren Anders Brown, founder and chief executive officer of PadsPass, the digital pet platform designed to make travelling with pets easier, is to speak at a major tourism conference next week.
Ms Bro…

The Government plans to introduce legislation allowing Bermuda to accept stablecoin payments and manage certain public financial assets in digital form, David Burt told the House of Assembly today, as…

Butterfield Bank has agreed to acquire CIBC Caribbean Bank in a $1.8 billion deal.
CIBC Caribbean, which operates in ten countries in the region and is headquartered in Barbados, is the Caribbean arm …

For the second time in its 168-year history, Butterfield Bank yesterday agreed to a deal which involves the Canadian Imperial Bank of Commerce taking a 22 per cent stake in the bank — but the circumst…

Patrick Fishel was paddleboarding around King’s Point in Sandys when the tides switched on him and the winds changed.
On an ordinary board he could have had difficulty getting back to shore, but on hi…

Carey Olsen in Bermuda has acted as joint lead counsel to The Bank of N.T Butterfield & Son Limited (“Butterfield”) on its landmark US$1.8 billion acquisition of CIBC’s 91.7% interest in Caribbean…

AM Best has affirmed the credit ratings of re/insurer Allied World Assurance Co Holdings Ltd and its subsidiaries, citing the group’s strong operating performance and balance sheet strength.
The ratin…

The RG/BSX Index finished up 1.96 (0.06 per cent) at 3,540.87 after 4,212 Allshores shares ($100,908) traded, finishing 20 cents (0.8 per cent) higher at $24. There was no other trading of domestic co…

A Bermudian-based tanker company has reported booming earnings and raised its dividend as geopolitical tensions and surging demand for oil transportation lift global shipping markets.
Nordic American …

Convex Group is expanding its presence in the Lloyd’s market with the planned launch of a new syndicate focused on long-tail speciality business lines.
The international speciality re/insurer announce…

Zlatko Zahirović, cofounder and chief technology officer of Paradise Mobile will help guide the technical strategy for how mobile devices function across North America, as the newly-appointed deputy c…

Butterfield Bank has agreed to acquire CIBC Caribbean Bank Ltd in a $1.8 billion deal.
CIBC Caribbean has a longstanding history serving communities across the Caribbean, and the deal will create a l…

Douglas De Couto believes Bermudians will feel “shock” over the $20.8 million gain that insurer Allshores booked from a Bermuda tax credit.
The Shadow Minister of Finance was reacting after The Royal …

Craig Swan, the chief executive of the Bermuda Monetary Authority, has expanded on local plans for the world’s first fully onchain economy, “a move he is certain will create amazing new opportunities …

The Bermuda Monetary Authority has petitioned the Supreme Court to wind up Bermudian-domiciled investment fund Yew Tree Investments Ltd under the Investment Funds Act 2006 and the Companies Act 1981.
…

When Germiko Hill and Andrew Brooks announced they were starting Harbour Roast, a speciality coffee import business, the response was excitement mixed with relief.
“One person said they had given up o…

Technological advances offer huge potential but are also bringing increased regulatory and compliance demands.
Duncan Card sees this scenario as the perfect environment to launch his new consulting fi…

A company founder claims to be seeking a new path in the global push to artificial intelligence aimed at asset management.
Janet Adams is CEO of Kailanta Capital, which is said to be a next-generation…

Katryn Smith, a Bermudian, has been appointed as audit partner, joining the partnership at Deloitte Bermuda, effective June 1, 2026.
Ms Smith has played an important role in serving clients across the…

Shares of Allshores gained 11.7 per cent in Bermuda Stock Exchange today, rebounding from a fall of similar size on Tuesday.
The insurer gained $2.50 to close on $23.80 as 4,500 of its shares changed …

Brookfield Corp and Brookfield Wealth Solutions have received board approval to move ahead with a plan to simplify their corporate structure under a single publicly traded company.
The companies anno…

Bermudian-based SiriusPoint is expanding into specialty underwriting with the launch of a new crisis solutions business focused on war, terrorism and political violence risks.
The company announced th…

One of the world’s foremost insurance leaders has expressed deep concerns about the economy, citing uncertainties he sees ahead.
And in a March shareholders letter, he reiterated a planned reduction i…

Allshores has booked a $20.8 million estimated gain through a Bermuda substance-based tax credit.
The company recognised the figure in its income statement as a reduction in net operating costs.
The …

Florida insurer Safepoint, which owns three Bermuda captives and is a substantial user of the Bermuda insurance-linked securities market, is seeking to raise as much as $283.3 million in a US initial …

Shares of Allshores fell 11.3 per cent in Bermuda Stock Exchange trading today.
The insurer closed down $2.70 on the trading of 5,002 shares to close at $21.30 on the BSX.
With Allshores the only stoc…

Bermudian-based offshore drilling contractor Vantage Drilling International reported a return to profitability in the first quarter of 2026, posting net income attributable to shareholders of approxim…

BermudAir is proving to be a high flyer in terms of customer service.
The airline revealed that its net promoter score, an established industry benchmark, is 70, ranking it among the world’s best.
Net…

The editor of an online crypto market news publication tried to pin down David Burt, the Premier and Minister of Finance, on potential plans for a post-government role with Bermuda’s growing list of d…

Assets held by Bermudian-based trusts can be frozen in cases where people subject to European Union sanctions effectively control the trusts, the EU Court of Justice has ruled.
The question came into…

The Royal Gazette/BSX Index was unchanged on 3,540.87 in the absence of trading activity on the Bermuda Stock Exchange today.
BSX-listed insurer Allshores today announced a dividend of 40 cents per sh…

Shareholders of Marex Group, a financial-services company based in Britain, have approved the company’s plans to redomicile to Bermuda.
At a general meeting in London last week, the shareholders appro…

A Bermudian company has launched what it describes as the world’s first regulated onchain vault, increasing accessibility to global investments for people who lack a brokerage account.
Plume, an open …

The net purchase price consideration of BF&M’s acquisition of Argus, including the fair value of the group’s pre-existing interest in their competitor, was $43.2 million.
This emerged from the All…

The New York metropolitan area has the largest number of homes vulnerable to hurricanes of any area in the United States, property analytics firm Cotality has reported.
More than 3.27 million New York…

Rize Technologies says its Bermuda-focused artificial intelligence platform relies on a proprietary local knowledge system rather than generic AI models, as the company revealed more details about the…

Major companies across the European Union have faced substantial fines between 2019 and 2024, estimated at a total of €930 million (about $1.08 billion), not only for cyberattacks or data breaches, b…

Bermudian-based Everest has launched a new scholarship programme in honour of former chairman Joseph Taranto as part of a broader effort to support education and develop future leaders.
The global ins…

The Royal Gazette/BSX Index was unchanged on 3,540.87 after no shares were traded on the Bermuda Stock Exchange today. For the shortened trading week, the index was also unchanged.
The US-listed share…

Life and annuity reinsurer Prismic has raised approximately $1.9 billion in new commitments, exceeding its original $1.6 billion target as institutional investors pour capital into the island’s expand…

Just in time for the Bermuda Day holiday, a YouTube video explains in the simplest of formats, the history of Bermuda and how it developed its reinsurance industry.
The video quickly drew comments, in…

The Royal Gazette/BSX Index was unchanged on 3,540.87 in the absence of trading activity on the Bermuda Stock Exchange today.
The US-listed shares of Butterfield Bank climbed 84 cents, or 1.51 per cen…

KPMG in Bermuda has strengthened its healthcare consulting team in Bermuda as it introduces an island-focused approach to mental health.
Penelope Johnstone has rejoined KPMG in Bermuda as a manager in…

Total catastrophe bond and insurance-linked security listings on the Bermuda Stock Exchange exceeded $68.5 billion in the first-quarter of year, as the BSX further grew an already dominant market shar…

Global reinsurer MS Reinsurance announced today that it produced a net profit of $415 million after tax for the year ended 2025, compared to $346 million for the year ended 2024.
The company, which ha…

Chubb Bermuda announced two leadership appointments.
Robert Spurling has been named head of financial lines, Chubb Bermuda. Mr Spurling currently serves as senior vice-president, financial lines under…

Jennifer Masters has been promoted to managing director, international operations leader at Brown & Brown Bermuda and remains the Bermuda captive leader, the company said today.
In addition, Abiga…

Everest has agreed to sell its Colombia insurance operation to American International Group as the company embarks on a broader strategy to streamline its business and concentrate on core operations.
…

Mereo Insurance Ltd has expanded into excess casualty insurance through a renewal rights transaction with Everen Specialty Ltd.
The insurer said it will become the carrier for new and renewed busines…